Bank of America Corp DE Buys 880,058 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Bank of America Corp DE grew its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 64.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,235,142 shares of the technology company's stock after purchasing an additional 880,058 shares during the period. Bank of America Corp DE owned 0.90% of SS&C Technologies worth $169,379,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Truist Financial Corp increased its holdings in shares of SS&C Technologies by 82.0% in the 4th quarter. Truist Financial Corp now owns 19,078 shares of the technology company's stock worth $1,446,000 after acquiring an additional 8,598 shares during the period. Thompson Siegel & Walmsley LLC increased its stake in shares of SS&C Technologies by 993.0% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 355,286 shares of the technology company's stock valued at $26,924,000 after purchasing an additional 322,781 shares during the period. ZWJ Investment Counsel Inc. increased its position in SS&C Technologies by 3.5% in the 4th quarter. ZWJ Investment Counsel Inc. now owns 330,352 shares of the technology company's stock valued at $25,034,000 after acquiring an additional 11,077 shares during the period. Benson Investment Management Company Inc. acquired a new stake in SS&C Technologies in the 4th quarter valued at approximately $5,578,000. Finally, Swedbank AB increased its position in SS&C Technologies by 17.5% in the 4th quarter. Swedbank AB now owns 1,753,236 shares of the technology company's stock valued at $132,860,000 after acquiring an additional 261,275 shares during the period. 96.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SS&C Technologies

In other SS&C Technologies news, Director Michael Jay Zamkow sold 23,000 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $88.39, for a total transaction of $2,032,970.00. Following the completion of the sale, the director now owns 23,200 shares of the company's stock, valued at $2,050,648. This represents a 49.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jason Douglas White sold 71,000 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $88.96, for a total transaction of $6,316,160.00. Following the sale, the senior vice president now directly owns 6,412 shares of the company's stock, valued at approximately $570,411.52. This represents a 91.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by corporate insiders.

SS&C Technologies Stock Down 0.3%

Shares of SS&C Technologies stock traded down $0.21 on Tuesday, hitting $79.66. 1,259,818 shares of the company traded hands, compared to its average volume of 1,305,517. The company has a 50-day moving average price of $78.73 and a 200 day moving average price of $78.71. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. SS&C Technologies Holdings, Inc. has a 12-month low of $60.01 and a 12-month high of $89.73. The company has a market cap of $19.65 billion, a PE ratio of 26.55 and a beta of 1.24.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The technology company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.41 by $0.03. The business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.50 billion. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.28 EPS. Sell-side analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current year.

SS&C Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. SS&C Technologies's dividend payout ratio (DPR) is presently 31.06%.

Analyst Ratings Changes

Several research firms have commented on SSNC. UBS Group raised their target price on shares of SS&C Technologies from $92.00 to $93.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. DA Davidson lowered their price objective on shares of SS&C Technologies from $100.00 to $94.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. StockNews.com upgraded SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Raymond James lowered their price target on SS&C Technologies from $95.00 to $90.00 and set a "strong-buy" rating on the stock in a research report on Friday, April 25th. Finally, Needham & Company LLC lowered their target price on SS&C Technologies from $105.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, April 25th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $91.86.

SS&C Technologies Profile

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.